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A new report by Canada Mortgage and Housing Corp. says Calgary's housing market is at low risk currently with a moderate risk of overvaluation.
"Overvaluation in Calgary reflects the combination of strong growth in house prices and modest gains in personal disposable income," said the CMHC's national House Price Analysis and Assessment, which was released on Monday.

Anyone who travels Deerfoot Trail knows the suburban commuter is far from an endangered species. But the beginnings of a change in Calgary’s residential character may be reflected in the latest numbers from the Canada Mortgage and Housing Corporation (CMHC).

The pace of new home construction in the Calgary region could reach a record level this year, but it’s expected to slow down in 2015, according to Canada Mortgage and Housing Corp. And a continuing decline in oil prices could pose a downside risk for the city’s housing market. The agency predicted Tuesday that total […]

CALGARY - Total housing starts in the Calgary census metropolitan area are projected to reach a record high this year but then moderate in 2015 and 2016, according to a new report released Thursday by Canada Mortgage and Housing Corp. And the city’s resale market will also set a record for annual MLS sales.

With homeless shelters across Alberta already packed and winter around the corner, advocates for the homeless are calling on the government for both immediate help and a long-term plan to bolster affordable housing.

CALGARY - Calgary’s booming luxury home market has already set an annual record for MLS sales with more than two months left this year. According to Mike Fotiou, associate broker with First Place Realty, as of October 18, there were 732 properties in the city that sold for $1 million or more. That surpassed the annual record of 726 which was established in 2013. The previous record before last year was 544 in 2012.

Calgary Mayor Naheed Nenshi smeared residential landlords when he publicly suggested tenants are victims of widespread gouging, said the head of an industry association. “It tarred an industry,” Gerry Baxter, executive director of the Calgary Residential Rental Association, said Friday. “That’s pretty much what it is. It’s an opportunity to single out landlords and make them the scapegoats.”

Michael Dion is looking for a truck camper or travel trailer to live in with his teenage daughter Brianna and dog Zeus. Left frustrated and exhausted by a search for an affordable home in Calgary’s tight rental market, the single father has decided a used camper might be his best bet for a roof over his family’s head.

Premier Jim Prentice is rejecting calls for rent controls as unnecessary and ultimately harmful, saying he’s looking for a market-based solution to deal with Alberta’s affordable housing crisis. But Mayor Naheed Nenshi said that while rent control may not be the answer, the province needs to step up with a new injection of money for social housing and incentives for rental housing development.

CALGARY - Price gains in Calgary’s new home market are far outpacing what is being seen across the rest of the country. Statistics Canada reported Thursday that the New Housing Price Index rose in August by 6.8 per cent on an annual basis and by 0.5 per cent on a monthly basis in the Calgary census metropolitan area. Both represented the biggest growth rates in Canada.

Alberta’s population growth is outpacing the rest of the country as the province’s economy and robust labour market continue to attract record levels of newcomers, but social agencies are warning a lack of affordable housing is threatening that prosperity. During the three-month period between April and June 2014, the province’s population increased by 35,000 to more than 4.1 million.

CALGARY - A luxury residential development just outside Calgary’s city limits has launched new sales phases for the project to take advantage of the growing appetite by homebuyers for high-end property. The Watermark at Bearspaw development recently launched the third phase of its single-family estate lots and will launch the fourth and final phase of its luxury villas on September 27.

Alberta’s minimum wage went up this week, but social service agencies in the Calgary region say they’re seeing more evidence working families are having trouble making ends meet. Calgary’s main food bank and others around the city are reporting increased use over last year, citing the region’s low vacancy rate and resulting high rents as one of the main drivers of the trend.

A low vacancy rate combined with a lack of progress on legalizing secondary suites is making it difficult for Calgary post-secondary students to find safe, affordable rental accommodation, say student leaders. “Calgary is an expensive city and it’s extremely hard for young people to find affordable housing,” said Erik Queenan, president of the Students’ Association of Mount Royal University.

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